Elizabeth Warren Backs Corporate Welfare Bank

Sen. Elizabeth Warren (D-MA) may market herself as a progressive populist, but when forced to choose between everyday Americans and billion dollar international corporations, Warren sides with the corporations.

“Senator Warren believes that the Export-Import Bank helps create American jobs and spur economic growth," Warren spokeswoman Lacey Rose wrote in an e-mail to Bloomnberg News, "She looks forward to reviewing re-authorization legislation if and when it is introduced."

In fact, the Export-Import Bank does not create any net jobs. Whatever jobs it does create for the corporations it subsidizes are lost by non-subsidized businesses.

This is why President Ronald Reagan proposed shrinking the Export-Import Bank saying at the time, "We’re doing this because the primary beneficiaries of taxpayer funds in this case are the exporting companies themselves–most of them profitable corporations."